Bira 91's parent company, B9 Beverages, just received a new legal notice for ₹11.19 crore from glass supplier HNGIL. HNGIL claims Bira 91 hid its corporate insolvency process while placing orders for 51.42 lakh custom bottles. The notice, also sent to investors like Peak XV and BlackRock, threatens civil and criminal action.
How We Got Here
This ₹11.19 crore demand follows a separate ₹8 crore recovery notice HNGIL sent Bira 91 just last month. Both disputes stem from purchase orders HNGIL fulfilled for customised glass bottles in 2024.
The Numbers
- HNGIL states over 51.42 lakh customised glass bottles, worth over ₹7 crore, are sitting at its facilities due to Bira 91's alleged failure to lift stock.
- HNGIL alleges Bira 91 placed orders in 2024 backed by bank guarantees, then encashed ₹3.91 crore of those guarantees, but still owes substantial dues.
- The glassmaker copied B9 Beverages' board and investors including Peak XV Partners, Sofina, BlackRock, and Kirin Holdings on the June 5 notice.
- HNGIL's total claim of ₹11.19 crore includes outstanding dues, interest, storage charges, and mould charges.
What Happens Next
🇮🇳 Why This Matters for India
For craft beer founders in cities like Goa and Bangalore, this public supplier dispute could increase scrutiny on their own payment cycles and inventory management, especially during periods of high growth or market volatility.
The Take
This public spat, especially with investors copied, screams of internal financial instability and will significantly complicate Bira 91’s next fundraising efforts. Any investor will now demand forensic clarity on current liabilities and supplier relationships before writing a cheque.
Source:
Inc42 ↗